India-UK free trade deal is likely around 2019
Wednesday, July 27, 2016
Subject
Outlook for a possible free trade deal between India and the United Kingdom post-Brexit.
Significance
UK business minister Sajid Javid's first overseas visit following the UK decision to leave the EU ('Brexit') was to India on July 8. Both countries have long eyed closer economic ties, and Brexit will likely provide a catalyst.
Impacts
- Prospects for growth are strongest in areas including IT, financial services, pharmaceuticals, textiles and light engineering.
- The United Kingdom could support India in future international trade negotiations.
- In time, the India-UK relationship may become diplomatically stronger than the India-US relationship.